President Ali IsDB head reaffirm support for enhancing economic growth and development

Sep 28, 2023 News

Kaieteur News – During the first leg of his tour of IsDB’s South American member countries, Islamic Development Bank President, Dr. Muhammad Al Jasser, on Monday met with President Irfaan Ali, where the two sides reaffirmed commitment to further enhance socioeconomic development cooperation.

The IsDB President, during the meeting, expressed gratitude to the Government of Guyana for the continued support and cooperation, a Ministry of Finance press release stated. The two sides then reviewed the progress in IsDB development projects in Guyana including the construction of hydropower plants in the Moco Moco and Kumu areas which will increase the share of renewables in the country’s energy mix.

“We are proud of our relationship with IsDB,” Guyana’s President, H.E. Dr. Mohamed Irfaan Ali reiterated during the meeting with the IsDB President said according to the release. “Guyana aspires to become a global leader in energy, food & climate security and build an economy that will remain resilient for the long term,” President Ali is also quoted as saying.

The President further outlined his vision for Guyana’s development trajectory including the building out of transformative infrastructure that is critical to securing the country’s competitiveness going forward.

IsDB President, stated: “Building a vibrant infrastructure in Guyana indicates the determination of the country’s leadership. I am impressed by the very entrepreneurial and driven team work to realize the country’s vision. Seeing a country building wealth is good news for all development practitioners.”

The two leaders also discussed innovative financing for present and future development projects in various sectors including those in Energy, Private Sector Development, Education, and Transport.

Earlier, Dr. Muhammad Al Jasser attended a meeting chaired by Prime Minister, Mark Phillips, where he exchanged views with several cabinet ministers including the Senior Minister of Finance, Dr. Ashni Singh, Minister of Agriculture Zulfikar Mustapha, Minister of Housing and Water Collin Croal and Minister of Public Works Bishop Juan Edghill.

Dr. Singh highlighted to Dr. Muhammed Al-Jasser and the IsDB delegation Guyana’s efforts to promote a strong non-oil economy and in particular, one that is diversified and resilient. He reiterated that agriculture will continue to be a mainstay of the country’s non-oil economy.

Guyana’s Minister of Agriculture, Zulfikar Mustapha, elaborated on how the country is striving to become the food hub of the Caribbean region while underlining the progress achieved in production of crops such as soya beans and corn that are central to food security. The IsDB President, in his remarks, stated: “It is impressive to see that Guyana’s agriculture is not relegated to the lower role in the economy.” He further added: “I am moved by seeing young people working as agricultural entrepreneurs.” Guyana, home to more than 750 thousand people, joined IsDB in 2016 and maintains a growing development portfolio with IsDB which falls in line with the country’s national development plans and priorities.

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Cooperation, Dr. Muhammad Al Jasser, Economic, IsDB’s South American member countries, Islamic Development Bank President

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